30 April 2024 | 2 replies
Thanks,Robert Robert,Would either have to look into some kind of a Quit Claim Deed to transfer it into your entity, or just fully refinancing either cash-out if you have any equity, or doing a rate and term refinance where you just transfer the existing debt in the property into your LLC.Payments could go either way, by being a member of the LLC, any rent payments could be linked to you pretty easily.
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1 May 2024 | 7 replies
The additional advantage to a DSCR loan is that they do not impact your DTI and you can keep them inside of an entity to help provide an additional layer of liability coverage if you would likeEntities would also allow you to be flexible in your ownership structure, if you need to add someone like a credit partner to help get better terms.Just shot you a DM, would love to see how we can help.
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30 April 2024 | 54 replies
Adds to the definition of "real estate broker" any individual or business entity who sells or offers to sell, buys or offers to buy, negotiates, or otherwise deals in real estate contracts, including assignable contracts, on two or more occasions in any 12-month period for compensation or valuable consideration.
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1 May 2024 | 16 replies
They can review your specific situation, assess potential risks and options, and provide guidance on the best course of action.Considering Ownership Structures: Depending on your long-term investment goals and risk tolerance, you may explore alternative ownership structures for your investment properties, such as holding them in your personal names or utilizing other legal entities besides an LLC.
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30 April 2024 | 9 replies
A title company that also serves as a QI (or creates a separate entity to do so) is just trying to add another revenue stream.
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1 May 2024 | 15 replies
(caught my book keeper stealing) and since then i do most of my rentals in Excel wich was very easy until recently because i have many entities. but since we have grown i think its time to just pay for Quick books and track rentals in there.
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29 April 2024 | 2 replies
The name of the LLC is not available in FL so I cant get a foreign entity with the same name.
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29 April 2024 | 5 replies
California does not recognize series LLCs.You also want to look at whether a pass-through entity helps your bottom line and your taxes.
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29 April 2024 | 4 replies
We've found it has superior reporting features, integration features, and is overall more efficient to work within than other REI-specific software.The downside is QBO is not set up for REI so you'll need to do that or work with an expert to ensure it is set up for your business appropriately.Something else to keep in mind is your entity structure and how your entities file tax returns.
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30 April 2024 | 37 replies
If in an LLC - it doesn't really matter who gets the loan then since the borrower on the DSCR Loan will be the LLC entity - not either you or your wife as an individual.DSCR Lenders can vary by treatment of who is required to guaranty the loan (generally around 25% ownership, >51% total) and which credit score is used for qualifying